New Construction
For Sale
$349,900
Pending
2401-03 FELICIANA Street, New Orleans, LA 70117
Multi-Family, Traditional, New Orleans, LA
Property Size2,295 SF
Lot Size0.08 Acres
Days on Market109
Property Features for 2401-03 FELICIANA Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Lot features
Regular
Standard status
Pending
APN
39W607601
Size
2,295 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Description
SQ 1311 LOTS 1 2 FELICIANA AND N ROCHEBLAVE 60X117 2/ST SGLE 6-APTS 3/RMS EA SGLE 5/RMS A/R
Legal Description
SQ 1311 LOTS 1 2 FELICIANA AND N ROCHEBLAVE 60X117 2/ST SGLE 6-APTS 3/RMS EA SGLE 5/RMS A/R
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
covered front porch
front porch
private balcony
stackable washer and dryer
Building Details
Year built
2026
Floors in Building
2
Number of units
1
Architectural style
Other
Listing Agency:
KELLER WILLIAMS REALTY 455-0100
(504) 455-0100
Listed By:
John McCann · License #995704833
(504) 289-4810
Added: May 8
Changed: Aug 20
Last Checked: Aug 24 at 1:06AM
MLS# 2555965
Copyright © 2026 New Orleans Metropolitan Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex is under construction at 2401-03 Feliciana Street in New Orleans. The property contains 2,295 square feet, with each residence arranged around three bedrooms, two full bathrooms, and an open living area. Modern finishes and abundant natural light are incorporated throughout, while central heating and central air serve the building.
The lower home includes a covered front porch. The upper residence adds a front porch and private balcony with views toward the Crescent City Connection. A Fortified roof, public water, and a 10-year A/C warranty are included. Each unit is equipped with a range, microwave hood, and stackable washer and dryer. An adjacent new-construction duplex at 2405-07 Feliciana Street is also available for buyers considering a package acquisition.
The lower home includes a covered front porch. The upper residence adds a front porch and private balcony with views toward the Crescent City Connection. A Fortified roof, public water, and a 10-year A/C warranty are included. Each unit is equipped with a range, microwave hood, and stackable washer and dryer. An adjacent new-construction duplex at 2405-07 Feliciana Street is also available for buyers considering a package acquisition.
Key Highlights
- 2,295‑square‑foot duplex under construction in New Orleans
- Each unit includes 3 bedrooms and 2 full bathrooms
- Open‑concept living areas with modern finishes and abundant natural light
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,060
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,200
$581.2K
Cap Rate 7%
$415,143
$415.1K
Cap Rate 9%
$322,889
$322.9K
Market Conditions
NOI Build-Up for 2,295 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$45.4K $19.80/SF
− Vacancy
−$3.9K −$1.71/SF
EGI
$41.5K $18.09/SF
− OpEx
−$12.5K −$5.43/SF
NOI
$29.1K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$581,200
Cap Rate 7%
$415,143
Cap Rate 9%
$322,889
Alternative Uses
Best Use
Multifamily LT 5
$415.1K
$363.3K – $484.3K
NOI $29,060 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$381.6K
$333.9K – $445.2K
NOI $26,711 @ 7.0% cap · market cap 7.63%
Theoretical Best
Office A
$583.3K
$510.4K – $680.5K
NOI $40,832 @ 7.0% cap · market cap 11.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 70117, LA
28,528
Population
15,821
Households
1.8
Avg Household Size
38
Median Age
35%
College-Educated
89%
High-School Grad
5.5 sq mi
ZIP Area
5,187
Density / Sq Mi
$41,645
Median Household Income
$31,744
Median Earnings
$1,191
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer open-plan interiors, modern finishes, and included appliance packages.
Where is this duplex located?
The property is located at 2401-03 FELICIANA Street New Orleans, LA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2,295‑square‑foot duplex under construction in New Orleans; Each unit includes 3 bedrooms and 2 full bathrooms; Open‑concept living areas with modern finishes and abundant natural light
